The Illinois Housing Development Authority has just implemented a program that provides $7,500 down payment assistance in the form of a grant to Illinois first time home buyers.
To qualify for this program you’ll need a credit score of at least 640, have at least 1% of the purchase price available to put towards the purchase, and live in one of the following Illinois counties: Boone, Cook, DeKalb, Fulton, Kane, Marion, McHenry, St. Clair, Will and Winnebago.
The Chicago Tribune reports:
The Illinois Housing Development Authority has launched a program that will provide down payments of $7,500 each to up to 4,000 first-time homebuyers, veterans and others in 10 Illinois counties.
The program, called 1stHomeIllinois, also is intended for those who haven’t owned a home in the last three years, with borrower income limits of up to $106,400 for a family of three or more.
>> read the full story at chicagotribune.com